While you may feel that having filed for bankruptcy is the end of the road, it is, in fact, an opportunity for a new beginning, a fresh start. If you have questions about filing for Bankruptcy in Nebraska, call our bankruptcy attorneys today at 308-872-8327.
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Myth: Filing for bankruptcy will destroy your credit forever.
Fact: A bankruptcy is expunged from your records within 10 years. Most bankruptcies are removed from your credit history sooner. While your credit will take a hit, it probably already has, and there are credit card companies who will send you offers a year or so after your bankruptcy. You may be able to qualify to purchase a home in about 2 years. Once you have filed for Chapter 7 bankruptcy, you are prohibited from filing another Chapter 7 bankruptcy to discharge your debts for another 8 years, so some creditors will consider you a good risk. Learn more about the common Nebraska Bankruptcy myths.
Q: What is a chapter 7 discharge?
A: It is a court order releasing a debtor from all of his or her dischargeable debts and ordering the creditors not to attempt to collect them from the debtor. A debt that is discharged is a debt that the debtor is released from and does not have to pay.